It’s not too late to receive money from the government towards your new home – however the deadline is quickly approaching!

The time hasn’t been better to buy a home in Fort Lauderdale! The team at Cabot Homes is here to help you find your dream home. The Worker, Homeownership and Business Assistance Act of 2009 can help you pay for it, with up to $8,000 in tax credits.  With the affordability of homes in South Florida combined with the government tax credit, your dream home is even more attainable! There is still time to take advantage of the tax credit however the deadline is April 30^th.

• The $8,000 tax credit is only available to first-time homebuyers.
  The law defines “first-time home buyer” as a person who has not owned a primary residence during the three-year period prior to the home purchase.
• You do not have to repay this tax credit unless your home is sold or ceases to remain your primary residence for three years after the home is purchased.
• The tax credit is equal to 10 percent of the purchase price of the home up to a maximum of $8,000. The price of the home also cannot exceed $800,000.
• The tax credit now applies to homes sold on or after January 1, 2009 and on or before April 30, 2010.
• However, if you have a binding sales contract that is signed before April 30, 2010, you will have until June 30, 2010 to close on the home purchase.
• In the case of married couples, the law states that the homeownership history of both the you and your spouse is taken into account. If either of you have owned a primary residence in the last three years neither of you will qualify for the tax credit. There are also income limits as well.
• To receive the full tax credit as a single person the limit is up to $125,000 and $225,000 for married couples that file a joint tax return.  If you earn more money than the limits you will not qualify for the full tax credit but can still qualify for a reduced tax credit.

Now is the time to buy a home in Fort Lauderdale and realize your dream of home ownership. Don’t miss this opportunity to receive the government tax credit to help purchase your Fort Lauderdale home. Turn to the Cabot Homes Group today to help you search the many Fort Lauderdale homes for sale to call home. The deadline is quickly approaching – April 30, 2010 for a sales contract to be signed, allowing you to close by the 30^th of June.